Hansen: “Caps won’t work – we need carbon tax.” Are we moving to post-capitalist society? Triple-bottom-line accounting: fiscal, social, environmental. McKinsey: “Capitalism is a multi-generational Ponzi scheme.” Need carbon tax. Carbon will be part of the US budget by 2011. federal cap & trade. Business-science-policy-technology: system of interconnects. Lots of data coming. EU policy stack being implemented. Anyone using over 6GWh or more than L500k/yr must disclose energy use. Coming to US. Carbon reduction commitment, energy efficiency, renewable obligations. “Moving to an economic age where we need to start obeying the 1st law of thermodynamics” [energy can neither be created nor destroyed]. Unpacking huge amounts of data. 20 largest cities use 75% of global energy. Future: many smaller cities. Pop density: cities are your country. Many local points of production & supply, networked together. No time left for closed systems. I/O models of everything. Democratization of energy. Smart grids. Microgeneration.